Nwf Regulatory News (NWF)

12 November 2020

NWF Group plc

NWF Group plc: Cyber Incident update

NWF Group plc ('NWF' or the Group), the specialist distributor of fuel, food and feed across the UK, provides an update regarding the impact of the cyber incident announced on 2 November 2020.

As set out in the announcement of 2 November 2020, upon becoming aware of unauthorised access to its IT systems, the Group acted promptly to instigate precautionary measures and engaged specialist external support to contain and manage the incident.  

Following extensive investigations, supported by cyber security experts, the Group is satisfied that the incident has been contained and additional security measures have been applied to all of the Group's IT systems.

The Group confirms that no information material to the running of the business was irretrievably lost as a result of the incident. Despite the temporary shut down of certain systems, the Group is pleased to report that each of its three divisions has continued to operate with minimal disruption and the Board does not expect that the incident is likely to result in any material impact on underlying trading.

Investigations into the incident continue and, as more information becomes available, the Group will continue to assess (with the benefit of specialist advice) its legal obligations in connection with the incident.

It is expected that the costs associated with the Group's response to the incident will be approximately £0.5 million net of recoveries under the Group's existing cyber insurance and as such the overall financial impact on the Group is not expected to be material.

Further updates in relation to the incident will be made as appropriate.

Having successfully contained this incident the Board has requested that trading in the Company's ordinary shares recommence with effect from 07.30 a.m. this morning.